Class A-2 Net Funds Cap definition

Class A-2 Net Funds Cap. For any Distribution Date and the Class A-2 Certificates will be a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for Loan Group 2 and such date and (2) 12, and the denominator of which is the Aggregate Loan Group Collateral Balance of Loan Group 2 for the immediately preceding Distribution Date, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period.
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Class A-2 Net Funds Cap. With respect to any Payment Date and the Class A-2 Bonds, (i) the weighted average of the Mortgage Rates of the Pool 2 Mortgage Loans as of the first day of the month preceding the month of such Payment Date (or in the case of the first Payment Date, the Cut-off Date) weighted on the basis of the Scheduled Principal Balances of such Mortgage Loans as of such date MINUS (ii) the Aggregate Expense Rate relating to Pool 2 and such Class of Bonds.
Sample 1
Class A-2 Net Funds Cap. For each Distribution Date up to and including the January 2005 Distribution Date and the Class A-2 Certificates and Class R Certificates, a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for both Loan Groups and such date and (2) 12, and the denominator of which is the Aggregate Loan Group Collateral Balance of both Loan Groups for the immediately preceding Distribution Date, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period. For each Distribution Date after the January 2005 Distribution Date and the Class A-2 and Class R Certificates, will be a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for Loan Group 2 and such date and (2) 12, and the denominator of which is the Aggregate Loan Group Collateral Balance of Loan Group 2 for the immediately preceding Distribution Date, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period.
Sample 1

Related to Class A-2 Net Funds Cap

  • Class A-2 Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 3.278%.

  • Class A-5 Pass-Through Rate For any Distribution Date, a per annum rate equal to 3.1156%.

  • Class A-3 Pass-Through Rate For any Distribution Date, a per annum rate equal to 2.8600%.

  • Class A-1 Pass-Through Rate For any Distribution Date, a per annum rate equal to 2.0840%.

  • Class B-3 Pass-Through Rate For the first Distribution Date, 4.120% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-3 Margin, (2) the Weighted Maximum Rate Cap and (3) the Available Funds Cap for such Distribution Date.

  • Class A-S Pass-Through Rate For any Distribution Date, a per annum rate equal to 3.4150%.

  • Class A-4 Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 3.469%.

  • Class B-2 Pass-Through Rate For the first Distribution Date, 6.850% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-2 Margin,

  • Class A-2a Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class B-1 Pass-Through Rate For the first Distribution Date, 6.4350% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-1 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

  • Class A-2a Interest Rate means 0.45% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-2-A Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class M-1 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-1 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-1 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-1 Pass-Through Rate for the related Accrual Period.

  • Class M-2 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-2 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-2 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-2 Pass-Through Rate for the related Accrual Period.

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class A Fixed Pass-Through Rate As to any Distribution Date, the rate per annum set forth in Section 11.01.

  • Class A-2-B Interest Rate means LIBOR + 0.27% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360 day year); provided, however, that for any Interest Period for which the sum of LIBOR + 0.27% is less than 0.00%, the Class A-2-B Interest Rate shall be deemed to be 0.00%.

  • Class A-3 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class C Pass-Through Rate For any Distribution Date, a per annum rate equal to the WAC Rate for such Distribution Date.

  • Class M-2 Pass-Through Rate For the first Distribution Date, _____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-2 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class M-1 Pass-Through Rate For the first Distribution Date, ____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-1 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class M-4 Pass-Through Rate For the first Distribution Date, ____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-4 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class X-D Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-D Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class H Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class M-3 Pass-Through Rate For the first Distribution Date, _____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-3 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.